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THE ESSENTIAL GALBRAITH includes key selections from the most important works of John Kenneth Galbraith, one of the most distinguished writers of our time - from THE AFFLUENT SOCIETY, the groundbreaking book in which he conined the tern "conventional wisdom," to THE GREAT CRASH, an unsurpassed account of the events that triggered America's worst economic crisis. Galbraith’s new introductions place the works in their historical moment and make clear their enduring relevance for the new century. THE ESSENTIAL GALBRAITH will delight old admirers and introduce one of our most beloved writers to a new generation of readers. It is also an indispensable resource for scholars and students of economics, history, and politics, offering unparalleled access to the seminal writings of an extraordinary thinker.
Preface vii Introduction ix Countervailing Power 1 from American Capitalism The Concept of the Conventional Wisdom 18 from The Affluent Society The Myth of Consumer Sovereignty 31 from The Affluent Society The Case for Social Balance 40 from The Affluent Society The Imperatives of Technology 55 from The New Industrial State The Technostructure 66 from The New Industrial State The General Theory of Motivation 79 from The New Industrial State Economics and the Quality of Life 90 from Economics, Peace and Laughter The Proper Purpose of Economic Development 109 from Economics, Peace and Laughter The Valid Image of the Modern Economy 118 from Annals of an Abiding Liberal Power and the Useful Economist 134 from Annals of an Abiding Liberal The Founding Faith: Adam Smith’s Wealth of Nations 153 from Annals of an Abiding Liberal The Massive Dissent of Karl Marx 169 from The Age of Uncertainty Who Was Thorstein Veblen? 200 from Annals of an Abiding Liberal The Mandarin Revolution 224 from The Age of Uncertainty How Keynes Came to America 236 from Economics, Peace and Laughter The Speculative Episode 249 from A Short History of Financial Euphoria In Goldman, Sachs We Trust 255 from The Great Crash, 1929 The Crash 275 from The Great Crash, 1929 Things Become More Serious 292 from The Great Crash, 1929 The Unfinished Business of the Century 307 Speech given at the London School of Economics, 1999 Sources 315